jetcityimageIntroduction It's time to talk about one of the most fascinating dividend growth stocks on the market. Founded in 1946, Lowe's Companies (NYSE:LOW) is one of the few dividend growth stocks that has dividend king status (more than 50 consecutive annual hikes) and a strong growth profile. Over the past ten years, LOW shares have returned more than 440%, beating the S&P 500 by more than 200 points! Data by YChartsNonetheless, the stock has gone sideways since 2022, when economic tailwinds turne ...

Lowe's Companies Inc (NYSE:LOW) Morgan Stanley Global Consumer & Retail Conference December 5, 2023 8:45 AM ET Company Participants Marvin Ellison - President, CEO and Chairman Conference Call Participants Simeon Gutman - Morgan Stanley Simeon Gutman Okay. We're going to get started. Hi, everyone. I'm Simeon Gutman, Morgan Stanley's hardline, broadline and food retail analyst. It is my pleasure to welcome Lowe's to this conference, represented by Chairman, President and CEO, Marvin Ellison. As many know the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 3, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 1-7898 LOWE’S COMPANIES, INC. (Exact name of registrant as specified in its charter) North Carolina 56-0578072 (Stat ...

Financial Data and Key Metrics - Comparable sales declined by 7.4% in Q3 2023, driven by a greater-than-expected pullback in DIY discretionary spending, particularly in big-ticket categories [5] - Online sales declined by 4% in the quarter, impacted by the same pressures in DIY big-ticket categories [10] - Diluted earnings per share for Q3 were $3.06, with operating margin rate increasing by 46 basis points compared to the prior year [11] - Gross margin was 33.7% of sales, up 36 basis points from last year, benefiting from merchandising initiatives and lower transportation costs [36] - Inventory ended the quarter at $17.5 billion, down $2.3 billion compared to Q3 of last year [37] Business Line Performance - DIY sales were under pressure, especially in big-ticket categories like appliances, core flooring, and kitchen and bath, where consumers are postponing purchases [7] - Pro sales comps were positive, reflecting the company's strategy to improve service offerings and loyalty programs [9] - Building materials saw positive comps, driven by strong performance in Pro-heavy categories like roofing and drywall [17] - Home decor categories, particularly appliances, flooring, and kitchens and bath, were heavily impacted by lower DIY demand [18] - Paint comps were above the company average, driven by Pro customers [20] - Lawn and garden comps were above the company average, driven by smaller fall cleanup projects [21] Market Performance - Rural stores outperformed the company average, with strong performance in pet, apparel, and automotive categories [13] - The company is exploring expanding the rural assortment beyond the original 300 designated rural stores due to strong customer response [14] Company Strategy and Industry Competition - The company is focusing on value-conscious customers with initiatives like the Lowe's Lowest Price Guarantee and competitive offers on single-unit appliance purchases [8] - Investments in Pro customer loyalty, CRM platforms, and job site delivery are driving positive Pro sales comps [10] - The company is expanding its rural strategy, offering a wide range of farm, ranch, and outdoor products, and exploring growth opportunities in non-rural locations [13][14] - The company remains bullish on the medium to long-term outlook for the home improvement industry, supported by favorable housing and demographic trends [15] Management Commentary on Operating Environment and Future Outlook - Management noted a cautious consumer environment, with DIY customers increasingly prioritizing experiences over goods [6] - The company expects home prices to be supported by a persistent supply-demand imbalance in housing, with millennial household formations expected to drive demand [15] - Management highlighted the aging housing stock in the U.S., with the median age of homes now 41 years old, which will require ongoing investments in repair and remodel projects [15] Other Important Information - The company opened 15 Lowe's Outlet locations in Q3, offering savings between 25% to 70% on big and bulky items [12] - The company is leveraging technology to improve associate productivity and customer service, including a new customer-centric scheduling system and mobile smart devices for associates [27] - The company is enhancing the shopping experience with same-day delivery and omni-selling capabilities in stores [29][31] Q&A Session Summary Question: Rural Store Expansion and DIY Comp Performance [43] - The company is exploring expanding the rural assortment beyond the original 300 stores and adding incremental merchandising initiatives based on customer feedback [44] Question: Front-End Transformation ROI [46] - The company is testing additional merchandising opportunities in the front-end transformation, focusing on items like snacks, drinks, and other complementary products [47] Question: Margin Management in a Down Comp Environment [50] - The company is managing several factors, including one-time legal settlements, wage growth, and PPI initiatives, to maintain margins in a challenging environment [52] Question: Cost Environment and Supplier Pricing [55] - The company has seen a leveling off of inflation and is leveraging cost management teams to negotiate with suppliers, aiming to protect margins [56] Question: Pro Business Momentum [74] - The company continues to see strong performance in the Pro business, driven by loyalty programs, online quotes, and same-day delivery services [75] Question: Pricing and Promotional Activity [77] - The company is seeing more vendor-funded promotions in appliances but remains focused on highlighting value through innovative products and special offers [78] Question: Share Repurchase Pace [82] - The company expects modest, if any, share repurchases in Q4 and will manage leverage according to its stated target [83] Question: Promotional Aggressiveness in a Down Comp Environment [85] - The company will continue to focus on PPI initiatives and adjust strategies based on the top-line environment [86] Question: Regional Sales Trends and Housing Dynamics [87] - The company's performance is relatively balanced across regions, with no material impact from housing cost moderation [88] Question: Appliance Market Shifts and Business Trends [90] - The company is not seeing significant shifts in the appliance market but is adjusting to consumer caution in big-ticket purchases [91]

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 4, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 1-7898 LOWE’S COMPANIES, INC. (Exact name of registrant as specified in its charter) North Carolina 56-0578072 (State ...

Lowe's Companies, Inc. (NYSE:LOW) Q2 2023 Earnings Conference Call August 22, 2023 9:00 AM ET Company Participants Kate Pearlman - VP, IR Marvin R. Ellison - Chairman and CEO William P. Boltz - EVP, Merchandising Joseph M. McFarland III - EVP, Stores Brandon Sink - EVP and CFO Conference Call Participants Christopher Horvers - J.P. Morgan Chase Simeon Gutman - Morgan Stanley Elizabeth Suzuki - Bank of America Zachary Fadem - Wells Fargo Scot Ciccarelli - Truist Securities Michael Lasser - UBS Eric Bosshard ...

Lowe's Companies, Inc. (NYSE:LOW) Oppenheimer 23rd Annual Consumer Growth & E-Commerce Conference June 28, 2023 9:00 AM ET Company Participants Marvin Ellison - Chairman and CEO Brandon Sink - EVP and CFO Conference Call Participants Brian Nagel - Oppenheimer Brian Nagel Good morning, everyone. My name is Brian Nagle. I'm a senior equity research analyst here at Oppenheimer. Very pleased to have you joining us this morning. So this is actually a continuation of our 23rd Annual Oppenheimer Consumer Conferen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 5, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 1-7898 LOWE’S COMPANIES, INC. (Exact name of registrant as specified in its charter) North Carolina 56-0578072 (State or ...

Lowe’s Companies, Inc. (NYSE:LOW) Q1 2023 Earnings Conference Call May 23, 2023 9:00 AM ET Company Participants Kate Pearlman - Vice President, Investor Relations Marvin Ellison - Chairman and Chief Executive Officer Bill Boltz - Executive Vice President, Merchandising Joe McFarland - Executive Vice President, Stores Brandon Sink - Executive Vice President and Chief Financial Officer Conference Call Participants Liz Suzuki - Bank of America Simeon Gutman - Morgan Stanley Steven Zaccone - Citigroup Brian Nag ...